Bridgewater is capping its flagship hedge fund strategy pure alpha. The maximum at one point was about $100 billion and will be 20 to 30% less than that going forward. As they cap the opportunity set in pure alpha, they're cutting some jobs. One of those initiatives is growing the firm's international footprint in Asia. Another is building out their equities business. A third is sustainability and a fourth, as you mentioned, is AI and machine learning.
Bloomberg News Editor-at-Large Erik Schatzker discusses the overhaul of Bridgewater Associates following founder Ray Dalio stepping down as head of the hedge fund. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Cyber and Emerging Tech Reporter Katrina Manson provide the details of Katrina's Businessweek Magazine story Russia’s Viasat Hack Exposed Satellite Industry’s Security Flaws. Bloomberg News Consumer Finance Reporter Paige Smith explains how car debt is piling up with more buyers $10,000 underwater on loans. And we Drive to the Close with Leo Kelly, CEO at Verdence Capital Advisors.
Hosts: Carol Massar and Madison Mills. Producer: Paul Brennan.
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